Marathon Petroleum Corporation (NYSE:MPC) announced a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Stockholders of record on Thursday, November 16th will be paid a dividend of 0.40 per share by the oil and gas company on Monday, December 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Wednesday, November 15th.
Marathon Petroleum Corporation has raised its dividend by an average of 20.9% annually over the last three years and has increased its dividend every year for the last 6 years. Marathon Petroleum Corporation has a dividend payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Marathon Petroleum Corporation to earn $3.68 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 43.5%.
Shares of Marathon Petroleum Corporation (NYSE MPC) traded up $0.06 during trading on Friday, hitting $61.72. 3,220,100 shares of the stock were exchanged, compared to its average volume of 4,415,190. The company has a market cap of $30,115.50, a P/E ratio of 18.74, a PEG ratio of 1.56 and a beta of 1.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.52. Marathon Petroleum Corporation has a 12 month low of $42.57 and a 12 month high of $63.41.
Marathon Petroleum Corporation (NYSE:MPC) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.29. The business had revenue of $19.36 billion during the quarter, compared to the consensus estimate of $19.38 billion. Marathon Petroleum Corporation had a net margin of 2.35% and a return on equity of 8.52%. The firm’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.58 EPS. equities analysts predict that Marathon Petroleum Corporation will post 3.59 earnings per share for the current year.
MPC has been the subject of several research reports. Credit Suisse Group reissued a “buy” rating and issued a $64.00 price objective on shares of Marathon Petroleum Corporation in a research note on Friday, July 14th. Zacks Investment Research downgraded shares of Marathon Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Jefferies Group LLC reissued a “buy” rating and issued a $54.83 price objective (down previously from $65.00) on shares of Marathon Petroleum Corporation in a research note on Thursday, July 20th. Cowen and Company increased their price objective on shares of Marathon Petroleum Corporation from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Finally, BidaskClub raised shares of Marathon Petroleum Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $62.64.
In other news, insider Anthony R. Kenney sold 77,578 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $62.35, for a total transaction of $4,836,988.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP C. Michael Palmer sold 11,450 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.02, for a total transaction of $607,079.00. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
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About Marathon Petroleum Corporation
Marathon Petroleum Corporation is engaged in refining, marketing, retail and transportation businesses in the United States and the largest east of the Mississippi. The Company operates through three segments: Refining & Marketing; Speedway; and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at the Company’s seven refineries in the Gulf Coast and Midwest regions of the United States.
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